Israeli startups raise $450m in Q2 so far

Nearly $1.5 billion has been raised since the start of the year, 20% below last year's record fund raising.

Israeli startups have raised over $450 million in the second quarter, "Globes" has found. At the midpoint of the second quarter, and with the Passover and the Independence Day festivals reducing the number of business days over the past six weeks, it looks as though Israeli startups are on course to raise about $1 billion in the second quarter, similar to the $1.03 billion raised in the first quarter, according to IVC-ZAG. Although a handsome amount, this is 20% below 2016's record $4.8 billion raised by startups - about $1.2 billion per quarter.

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Other major financing rounds closed in May include insurtech company Next Insurance, which raised $29 million, bone regeneration company CartiHeal, which raised $18.3 million, and smart wheel company Softwheel, which raised $10 million.